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The Option Value of Innovative Treatments for Metastatic Melanoma

Thornton Snider Julia, Seth Seabury, Tebeka Mahlet Gizaw, Wu Yanyu and Batt Katharine ()
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Wu Yanyu: Precision Health Economics, Los Angeles, CA, USA
Batt Katharine: Wake Forest University Baptist Medical Center, Department of Internal Medicine, Section of Hematology/Oncology, Medical Center Boulevard, Winston-Salem, NC 27157, USA, Tel.: +336-716-5772

Forum for Health Economics & Policy, 2018, vol. 21, issue 1, 10

Abstract: Treatment options in oncology have increased in recent years due to the quick pace of innovation. In the cancer care landscape, therapies that enable patients to live to the next innovation have additional value, “option value,” from the benefit of surviving to the next innovation. In such disease areas, providers and payers should consider this value when gauging the value of new therapies. The purpose of this study is to develop a model to estimate the additional survival patients attain from a therapy that allows them to live to benefit from further advances in care, and to apply the model to immunotherapy for metastatic melanoma.

Keywords: health technology assessment; immunotherapy; innovation; life expectancy; oncology; option value (search for similar items in EconPapers)
Date: 2018
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